In the above table, the total variable cost of producing 16 units of output is
A) $20.
B) $60.
C) $100.
D) $120.
C
Economics
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Refer to the above figure. A minimum wage has been set at WM. The amount of unemployment is
A) zero. B) at Qe. C) QS minus QD. D) not computable from the information given.
Economics
Many economists estimate that for every 10% increase in relative minimum wage rates, there is a corresponding decrease in employment of those affected equal to
A) 5-10%. B) 1-2%. C) 10-20%. D) 30-40%.
Economics